MULTI-OUTPUT PRODUCTION AND DUALITY: THEORY AND APPLICATIONS

Fare, Rolf and Primont, Daniel

ISBN 10: 0792395182 / ISBN 13: 9780792395188

Published by Kluwer Academic Publishers, Boston, London, Dordrecht, 1995

About this Item

Octavo, vii, x, xii, 172 pages. In Very Good minus condition. Bound in the publisher's dark brown cloth bearing off-white lettering to the spine. Boards have some scuffs/scratches exteriorly, bumped spine edges and rubbed corners. Text block has mild age toning to the edges. Very mild wear interiorly. Illustrated. NOTE: Shelved in Netdesk Column F, ND-F. 1378161. FP New Rockville Stock. Seller Inventory # 1378161

Bibliographic Details

Title: MULTI-OUTPUT PRODUCTION AND DUALITY: THEORY ...

Publisher: Kluwer Academic Publishers, Boston, London, Dordrecht

Publication Date: 1995

Binding: Hardcover

About this title

Synopsis:

Our original reason for writing this book was the desire to write down in one place a complete summary of the major results in du­ ality theory pioneered by Ronald W. Shephard in three of his books, Cost and Production Functions (1953), Theory of Cost and Produc­ tion Functions (1970), and Indirect Production Functions (1974). In this way, newcomers to the field would have easy access to these important ideas. In adg,ition, we report a few new results of our own. In particular, we show the duality relationship between the profit function and the eight equivalent representations of technol­ ogy that were elucidated by Shephard. However, in planning the book and discussing it with colleagues it became evident that such a book would be more useful if it also provided a number of applications of Shephard's duality theory to economic problems. Thus, we have also attempted to present exam­ ples of the use of duality theory in areas such as efficiency measure­ ment, index number theory, shadow pricing, cost-benefit analysis, and econometric estimation. Much of our thinking about duality theory and its uses has been influenced by our present and former collaborators. They include Charles Blackorby, Shawna Grosskopf, Knox Lovell, Robert Russell, and, not surprisingly, Ronald W. Shephard. We have also benefit­ ted over the years from many discussions with W. Erwin Diewert.

Synopsis:

This text presents a complete summary of the major results in duality theory pioneered by Ronald W. Shephard. Building on this base, the authors present new findings including the duality relationship between the profit function and the eight equivalent representations of technology that were elucidated by Shephard. Finally, it provides a number of applications of duality theory to economic problems. These include efficiency measurement, index number theory, shadow pricing, cost-benefit analysis and econometric estimation.